DOWNTOWN TO SEE ALMOST $1 BILLION OF INVESTMENT IN NEXT 3 YEARS

River City Co. President Kim White gave an update about downtown-area development on Thursday.

Over the next three years, leaders projectnearly $1 billion in private investment in projects that are scattered from the North Shore to the Southside, White said.

"A billion worth of development is a big deal," she said.

Currently, there's $518 million in private investment contributing to the development of apartments, student housing, hotel rooms and commercial space.

City CenterIn 2013, leaders went through a planning process to reimagine the area between Sixth and 12th streets.

They identified 22 properties that needed development, and 15 of those are currently undergoing construction, White said.

Projects that are underway are:

213 rooms in the Gold Building, which will become a WestinSix condos in the Gilman BuildingRetail redevelopment in the CitiPark garageRedevelopment of the Read House50 housing units in the Clemons Building90 housing units in the Maclellan Building122 rooms for a hotel in the Chattanooga Bank Building125 housing units in the 700 block of Market StreetCommercial redevelopment of the Mayfield Building39 housing units in the Tomorrow BuildingCommercial redevelopment projects on Cherry Street80 housing units in the First Tennessee Building